Home News Markets have failed on housing
Card image cap

Markets have failed on housing


The Saturday Paper


John Hewson


As someone who has long advocated for relying on market forces whenever possible, it pains me to recognise that market failure has been a major feature of the emerging housing crisis.

The failure is apparent in the context of a long-term shift by both state and federal governments away from social housing. The share of public housing in new builds has collapsed – from roughly 10 per cent in the 1970s and ’80s to barely 3 per cent over the past decade. It is now imperative governments re-embrace social housing strategies as probably the most effective way of beginning to make homes more affordable and prevent more people falling into homelessness.

Click here to view original web page at www.thesaturdaypaper.com.au

Read Article